Foot Cardigan Shark Tank Update

Foot Cardigan Shark Tank Pitch

Bryan DeLuca, Matt McClard, and Tom Browning appeared on Shark Tank Season 7, Episode 3, which aired on October 9, 2015, with sock subscription service.

Foot Cardigan is listed in the Clothing Fashion category. In plain terms, the business is described as sock subscription service.

Foot Cardigan asked the Sharks for $250,000 for 10%, implying a valuation of about $2.5 million.

On the show, Foot Cardigan made a listed deal with Mark Cuban for $250,000 for 20%.

If treated as straight equity, the listed deal works out to about $1.3 million implied valuation, down from the original $2.5 million implied valuation.

This pitch is included as context for the more important question: what happened after Shark Tank.

Foot Cardigan After Shark Tank

Foot Cardigan accepted an on-air Shark Tank deal for $250,000 for 20%. Follow-up reporting lists the company as still operating after its Shark Tank appearance. (Foot Cardigan Shark Tank Update

Foot Cardigan reported annual revenue of $4 million as of May 2022. (Foot Cardigan Shark Tank Update

The Shark Tank Blog spoke with Bryan DeLuca five days after the original air date. (Foot Cardigan Shark Tank Update

The company more than doubled its subscriber base and revenue in the 96 hours following the broadcast. (Foot Cardigan Shark Tank Update

Two years later, in 2017, they sold a majority stake of the business for an undisclosed amount to Detail Provisions Co., a Dallas-based holding company formed to acquire and build accessories brands. (Foot Cardigan Shark Tank Update

The official website for Foot Cardigan is listed as www.footcardigan.com. (Foot Cardigan website

Sources

Sources used for this page: Shark Tank API pitches